Evolving Market Trends: Used Commercial Freezers Industry Projected to Grow at 3% CAGR and Reach US$ 37070 Million by 2033

The global Used Commercial Freezer Market is valued at US$ 27583.40 million as of 2023. The market is expected to grow at a CAGR of 3% during the period 2023 to 2033, and by 2033, the market valuation is expected to reach US$ 37070 million.
When it comes to commercially used commercial freezers, they are primarily employed in SMEs and, to a lesser extent, a few large firms that deal with ice cream. According to FMI research, the global ice cream and frozen dessert market is predicted to develop at a CAGR of 7.1% through 2022, with a colossal worth of US$ 137,300 million. This could boost demand for used commercial freezers during the forecast period.

Apart from that, secondhand refrigeration equipment is also employed in fast-service restaurants, as cost reduction through good process execution is one of the primary business factors for these businesses. These freezers are used in fast-service restaurants to store cold beverages and ice cream. The rapid expansion of quick service restaurants, which is growing at a CAGR of about 5.5%, represents enormous prospects for the used commercial freezer market.

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Furthermore, the used freezer is also used in hypermarkets and supermarkets for keeping the consumables free from contamination.

Moreover, the used commercial freezers that are available in the current times are robust as well as energy efficient which might well increase their market share during the forecast period.

Key Takeaways:

• The used commercial freezer market is valued at US$ 27583.40 million as on 2023.

• By 2033, the market is expected to reach a valuation of US$ 37069.78 million.

• The market is expected to grow at a CAGR of 3% during the period 2023-2033.

• The US used commercial freezer market is valued at US$ 7723.35 million as on 2023, and is expected to grow at a CAGR of 3.9% during the forecast period.

• The UK market is valued at US$ 1875.67 million as on 2023, and is forecasted to grow at a CAGR of 4.2% during the forecast period.

• The China used commercial freezer market is expected to be valued at US$ 5138.03 million by 2033, and is expected to grow at a CAGR of 5.9% during the forecast period.

• The Japan market holds a valuation of US$ 2399.76 million as on 2023, and is projected to expand at a CAGR of 6.1% through 2033.

• The South Korea used commercial freezer market is expected to grow at a CAGR of 5% through 2033, and by 2033, the market is expected to be valued at US$ 1572.57 million.

• Based on the type, the ice machines segment holds the highest market share, and is anticipated to grow at a CAGR of 3.5% during the forecast period.

• Based on the application, the convenience stores segment holds the highest market share, and is anticipated to grow at a CAGR of 3.6% during the forecast period.

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Competitive Landscape
The key players operating in the used commercial freezer market are focusing on developing ties with supermarkets, hypermarkets, and all the major players operating in the cold beverages market. Apart from that, there is also a conscious effort to effectively convey the value proposition of the product, which is "top-notch cooling at an affordable rate."

Some of the recent developments are:
• In October 2022, Ingersoll-Rand announced that it would acquire Everest Group and Airmax Groupe.

• In November 2022, Johnson Controls appointed Lei Schlitz as Global Products President.

Key Companies Profiled
• Electrolux,
• Hussmann,
• Ingersoll-Rand,
• Johnson Controls,
• Lennox,
• Whirlpool,
• Samsung Electronics,
• SMEG,
• Unimagna Philippines

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.